7 Oct 2015
Key events taking place ahead - Westpac
FXStreet (Guatemala) - Besides the statement from the BoJ later today, Sean Callow, analyst at Westpac Banking Corporation noted some of the key events taking place ahead.
Key Quotes:
"China’s Sep FX reserves data is due sometime today, presumably in the London morning. Dollar Index rose 0.6% over the month so valuation effects trim perhaps $10bn from the $3557bn starting point."
"The PBoC was widely reported to be active in keeping a lid on USD/CNY (and according to trader reports also on USD/CNH at times - none of this confirmed) during Sep. This ensured that the yuan wasn’t a hot topic at the US-China meetings and also dampened investor fears of a substantial CNY depreciation. A fall as large as August’s -$94bn seems very unlikely but it should still be significant."
"RBA deputy governor Debelle speaks at the Australian Financial Markets Report Launch at 6:05pmSyd/3:05pm Sing/HK. There seems little risk of market-moving commentary. Taiwan releases Sep CPI and export numbers. Exports, expected at -11.2%y/y, may give some indication of the China trade data due next week. We also have Malaysia Aug trade today."
Check here for a preview of the BoJ statement due later today.
Key Quotes:
"China’s Sep FX reserves data is due sometime today, presumably in the London morning. Dollar Index rose 0.6% over the month so valuation effects trim perhaps $10bn from the $3557bn starting point."
"The PBoC was widely reported to be active in keeping a lid on USD/CNY (and according to trader reports also on USD/CNH at times - none of this confirmed) during Sep. This ensured that the yuan wasn’t a hot topic at the US-China meetings and also dampened investor fears of a substantial CNY depreciation. A fall as large as August’s -$94bn seems very unlikely but it should still be significant."
"RBA deputy governor Debelle speaks at the Australian Financial Markets Report Launch at 6:05pmSyd/3:05pm Sing/HK. There seems little risk of market-moving commentary. Taiwan releases Sep CPI and export numbers. Exports, expected at -11.2%y/y, may give some indication of the China trade data due next week. We also have Malaysia Aug trade today."
Check here for a preview of the BoJ statement due later today.